💰 U.S. Banking Giant Wells Fargo Files for a Bitcoin Fund

07/21/2021

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U.S. Banking Giant Wells Fargo Files for a Bitcoin Fund

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One of the oldest and top banks in the United States, Wells Fargo, intends to start offering exposure to Bitcoin soon to its customers.

The bank has filed with the US Securities and Exchange Commission (SEC) to have its designated Bitcoin (BTC) fund.

According to the filing with the SEC, the banking giant has partnered with FS Investments and New York Digital Investment Group (NYDIG) for the initiative.

Based on the notice, Wells Fargo Clearing Services will get placement and servicing fees for all the clients that it refers to the fund.

The fund’s first sale is yet to take place. However, they anticipate the offering to last for more than a year.

Wealthy clients of Wells Fargo will enjoy indirect exposure to Bitcoin via this fund that will be issued in partnership with NYDIG and FS Investments.

Overall, Wells Fargo’s filing with the SEC reconfirms the growing adoption rate from US banking organizations like Goldman Sachs, Morgan Stanley, among others.

Google Calendar Will Soon let You Specify Where You are Working to Help Organize Office Meetings

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Google has recently made an announcement stating that it is including a new feature to its Calendar service that will allow users to present the place they are working from on any given day of the week.

The tech giant will begin rolling out this feature from August 30 for customers on select Google Workspace plans.

You can access this feature via Calendar’s setting menu, alongside its current working hours options. On the weekly calendar view below the place where it shows each day’s dates.

Some available work areas include “Office,” “Home,” “Unspecified,” or “Somewhere else.”

It’s up to you whether you want to “Enable working location” to let “others know where you’re working from when you invite a person to an event.” However, only people who have free/busy access to your calendar will be able to see your location.

Google says the location feature will make it “easier to plan in-person collaboration or set expectations in a hybrid workplace.”

Facebook Brings Reels to its Main app, aim to Capitalize on the Short-Form Video Trend

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In a growing battle with TikTok, Facebook is set to test ‘Facebook Reels’ in the United States as it continues to seek new ways to make the most of the short-form video trend.

Facebook Reels will give users the power to create and share short-form video content material instantly within the Information Feed or Facebook Teams.

At the outset, you will be able to tap a “Create” button from the Reels section that appears as you scroll the Information Feed, while you are watching Reels or by tapping on “Reels” at the top of your Feed.

Right from here, you will have access to the standard set of video creation tools including, those for video capture, camera roll import, music selection, among others.

Short-form video engagement has turned into a habitual trend, and by exposing more users to Reels, Facebook will better align with that shift, which might drive engagement growth and offer new alternatives.

São Paulo’s QuintoAndar Real Estate Platform Raises $120 Million, now Valued at $5.1 Billion

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Not more than two months after announcing a $300 million Series E funding, Brazilian proptech QuintoAndar has raised an additional $120 million.

The funding was co-led by new investors Greenoaks Capital and China’s Tencent, which included participation from some existing backers as well.

São Paulo-based QuintoAndar, a platform that simplifies the rental of residential real estate for landlords and renters, is now valued at $5.1 billion, up from $4 billion at the time of its last raise in late May.

QuintoAndar portrays itself as a “comprehensive solution for long-term rentals” that, among other things, connects potential tenants with landlords and vice versa.

Last year, the company also expanded to connect home buyers with sellers, while its long-term plan is to grow as a one-stop actual property store that additionally provides mortgage, title insurance coverage, and escrow providers.

Overall, QuintoAndar’s core strategy is to focus on organic growth and innovation that it believes can either help it accelerate in a particular way or add something unique it had not yet thought about.

Around the Web

🛑 VanEck, ProShares withdraw their Ethereum ETF applications: A couple of days after submitting their applications to the United States Securities and Exchange Commission (SEC) for Ethereum futures, asset managers VanEck and ProShares hastily withdrew their proposals.

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